How Zach Bagby and Courtney Erickson Built a $5M Real Estate Portfolio While Full Time in Tech
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Show Notes
Episode Summary
In this episode of Groundbreakers, Zach Bagby and Courtney Erickson, co-founders of ZB3 Real Estate, share how they’ve built a $5M+ real estate portfolio across Colorado and the Midwest—all while working full-time in tech.
Zach works at Medley. Courtney is at Visa. And together, they’re scaling ZB3 through careful underwriting, creative deal structuring, and a long-term thesis that embraces market volatility. From buying back a property they sold to navigating a tenant situation that made the local news, they’ve learned by doing—and built a system that balances career, capital, and cash flow.
Key Points Discussed
- Building While Working Full-Time: Zach and Courtney share how they’ve closed five real estate deals without leaving their day jobs, and how their W2 income has been a strategic advantage during a tough market cycle.
- The Buy-Sell-Buy Deal: One of their early deals involved buying a fourplex for $900K, selling it for $1.3M, then buying it back for $1M—showing the value of staying close to the deal and trusting your thesis.
- Operational Lessons from Crisis: After a tenant incident went viral and made the news, Zach and Courtney learned the value of hands-on management, emergency response systems, and having the right team on speed dial.
- Underwriting in Today’s Market: ZB3 is staying disciplined while others overpay. They’ve walked away from dozens of deals, focusing instead on long-term cash flow and operator-friendly financing structures.
- Survive, Then Scale: Their thesis? “Survive 25. Fix in 26. Heaven in 27.” It’s about putting in the reps now so they’re in position to win when the next cycle turns.
Guest Information
- Names: Zach Bagby & Courtney Erickson
- Role: Co-Founders at ZB3 Real Estate
- LinkedIn: Zach Bagby | Courtney Erickson
- Website: ZB3 Real Estate
Conclusion
Zach and Courtney’s story is proof that you don’t need to quit your job to scale a meaningful real estate portfolio. With discipline, a strong partnership, and a willingness to learn through experience, they’re building something special—one deal at a time.
Connect with Zach and Courtney on LinkedIn or visit ZB3 Real Estate to learn more about their journey and future projects.